Intuit Inc. (NASDAQ:INTU) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,673 shares of the software maker’s stock after selling 42 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Intuit were worth $1,683,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC acquired a new position in shares of Intuit during the first quarter valued at about $25,000. Raleigh Capital Management Inc. increased its holdings in shares of Intuit by 100.0% during the first quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock valued at $26,000 after acquiring an additional 29 shares in the last quarter. Activest Wealth Management acquired a new position in Intuit in the 1st quarter worth approximately $27,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Intuit in the 1st quarter worth approximately $29,000. Finally, Barrett & Company Inc. acquired a new position in Intuit in the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 82.63% of the company’s stock.

Intuit Trading Down 0.1 %

Shares of INTU stock opened at $537.40 on Monday. The stock’s fifty day moving average is $509.54 and its two-hundred day moving average is $460.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $150.63 billion, a P/E ratio of 63.75, a PEG ratio of 3.29 and a beta of 1.19. Intuit Inc. has a fifty-two week low of $352.63 and a fifty-two week high of $558.64.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 24th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.22. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the company earned $0.22 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 11.25 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Monday, October 9th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This is an increase from Intuit’s previous quarterly dividend of $0.78. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 42.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on INTU shares. BNP Paribas upgraded shares of Intuit from an “underperform” rating to a “neutral” rating and set a $532.00 price target on the stock in a report on Wednesday, July 19th. Stifel Nicolaus raised their price objective on shares of Intuit from $475.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Piper Sandler raised their price objective on shares of Intuit from $528.00 to $642.00 and gave the stock an “overweight” rating in a research note on Monday, September 11th. Oppenheimer raised their price objective on shares of Intuit from $476.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, August 25th. Finally, Barclays raised their price objective on shares of Intuit from $495.00 to $570.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $551.73.

Insiders Place Their Bets

In related news, EVP Laura A. Fennell sold 53,741 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $450.96, for a total transaction of $24,235,041.36. Following the completion of the sale, the executive vice president now directly owns 39,896 shares of the company’s stock, valued at approximately $17,991,500.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Laura A. Fennell sold 53,741 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $450.96, for a total transaction of $24,235,041.36. Following the completion of the sale, the executive vice president now directly owns 39,896 shares of the company’s stock, valued at approximately $17,991,500.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 10,732 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $531.01, for a total value of $5,698,799.32. Following the sale, the chief financial officer now directly owns 235 shares of the company’s stock, valued at $124,787.35. The disclosure for this sale can be found here. Insiders sold 90,927 shares of company stock valued at $44,218,147 in the last three months. 3.18% of the stock is currently owned by insiders.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.